What are my options for paying my property taxes?
In New Mexico, property taxes are managed by the county assessor within each county. Depending on the county, there are typically several payment options to choose from when paying your property taxes. The first and most commonly used option is to pay the entire amount due by the due date stated in the property tax bill. This is typically done by mailing a check or money order to the tax assessor for the amount due. If this option is chosen, it must be done before the due date to avoid any penalties or interest. Another option for paying your property taxes is to set up an installment plan. If the tax amount due is greater than $100, the tax assessor may allow an installment plan to spread out the payments over a period of time. This plan is typically limited to no more than four payments and must be paid in full before the end of the tax year. The last option for paying your property taxes is to apply for a tax deferment. Tax deferment is typically granted to elderly or disabled property owners who have limited incomes and have met certain requirements. If granted, the tax deferment will reduce the amount of taxes due and allow the recipient to make smaller payments. In summary, when it comes to paying property taxes in New Mexico, you have the option to pay the full amount due by the due date, set up an installment plan, or apply for a tax deferment. Be sure to check with your local county assessor to determine what options are available for your specific situation.
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